I ask my rock stars three questions at the start of every class. How many vacant spaces do you have? How many call-ins do you get each week? How many of those are actually qualified?
A qualified prospect, in my world, has more than one location and money on hand to expand. When I tally it up, only about .05% of call-ins meet that bar. If you’re depending on leasing signs and cold emails to fill your spaces, you’re going to be waiting a long time.
Canvassing is what actually works. Only 2% of agents do it regularly, and I’d bet that’s the same 2% closing the most deals. It’s no longer about who you know, it’s about who knows you. Face-to-face relationships are what get you remembered when a prospect is finally ready to expand.
I canvass, and so does my entire team, 10 hours a week minimum. I average 15 new business cards for every 15 stores I visit, even after 31 years in my market. I still find prospects I’d been overlooking for years.
Case in point, there was a tennis shop on my route to my son’s school that I’d passed for two years without stopping in. It looked small, so I assumed it was a one-store operation. My rookies pointed out I was saying no for the prospect. We walked in. They had 8 locations and were looking for more.
Rockstar Tip: Pick one store you’ve been walking or driving past without stopping in. Go in this week and ask about their expansion plans. You might be surprised who’s actually behind that counter.